Amercanex International Exchange: Taking the Cannabis Cause Global
“If the doors of perception were cleansed, everything would appear to man as it is, Infinite.” - William Blake.
Cannabis has been used as a recreational drug for millennia. It is one of the earliest psychoactive substances known to man and has been the source of inspiration for some of the greatest accomplishments of humanity, through the arts, medicine or science. For centuries, cannabis has been used as a recreational and religious drug amongst many cultures. Despite slight opposition in the 19th and early 20th centuries, cannabis enjoyed widespread usage and popularity.
Then in 1971, U.S. President Richard Nixon officially declared the “war on drugs.”Marijuana was classified as a Schedule 1 drug in the Controlled Substance Act. Thegovernment and various anti-drug activists kicked the war on drugs into overdrive, taking extreme measures that included the involvement of the CIA and U.S. military.
Three decades of turmoil ensued over the subject of drug control and interdiction. However, even as the federal laws over drug control multiplied, the popularity of cannabis among the public grew exponentially. Robert DuPont, the first director of NIDA who was referred to as the ‘Drug Czar’ in Nixon’s administration, stated, “It would be more accurate to say that Nixon ended, rather than launched, the war on drugs.”
Turn On, Tune In, Drop Out
The hippie movement, which started out as counterculture, was quite instrumental in the way the use of drugs came to be perceived in the 1960s and 1970s. The perception of the hippie as a mainstream culture further spawned countercultures which shunned the idea and the supposed apathy that it is often associated with.However,by that time cannabis had become quite accessible and many farmers within the United States had began cultivating cannabis in their own backyards under the radar.
This practice spread and manifested into a huge network of farmers who had perfected the art of growing cannabis and were producing it in considerable quantities using strains from across the world. Then in 1999, a government-sponsored medical study found a number of beneficial properties of cannabis and cannabidiol (CBD). Support for the recreational and medical legalization of marijuana has grown each year, with a 2017 CBS poll finding 61% of Americans believe cannabis should be legal and 88% are in favor of medical marijuana.
With the legalization of cannabis in many states in the U.S., many farmers have become public with their crops. Today, 28 states and the District of Columbia have passed medical marijuana measures and eight states have made recreational use legal. This has led to many government-led initiatives to promote the legal cultivation and sales of cannabis.
And this is where the story of Amercanex begins. In 2014, two Wall Street professionals named Steve Janjic and Adam Martin realized that there was a pressing need for a marketplace for cannabis similar to any other commodity such as energy, precious metals or agriculture. They created the ACExchange, the world’s first fully electronic, transparent, compliant marketplace for the wholesale transaction of cannabis.
Three Powerful Platforms. One Marketplace
Amercanex offers a platform for cannabis cultivators and licensed cannabis retailers to conduct transactions in a safe and secure marketplace. Leveraging Steve’s experience in e-commerce trading and Adam’s experience in electronic trading technologies, they were able to develop the first fully electronic, compliant, transparent exchange dedicated to cannabis, the ACExchange.
“The core function of this marketplace is to ensure fair and orderly transactions, as well as efficient dissemination of price information, for products bought and sold on ACExchange,” explains Steve.
In compliance with government regulations, ACExchange operates at the wholesale level; it is not designed for retail end users. “All transacting members of the marketplace are licensed stakeholders, growers, manufacturers and retailers competing for the best pricing and products on a transparent platform,” Steve adds. ACExchange also offers efficient dissemination of price information.
While cannabis may be legal in 29 states, its general classification as a schedule 1 drug by the Controlled Substances Act poses several challengesto individuals within the legal cannabis industry. Amercanex helps solve cannabis industry participants solve these challenges.
One of the biggest problems is obtaining banking and financial services.
“There are a number of safety and security risks in cash businesses, from theft to transportation concerns. Government and regulatory agencies also lose out on millions in unreported taxes that could help fund social and educational programs,” Adam says.
To address this issue Amercanex created ACEpay,which allowsAmercanex members to deposit cash and pay their bills, payroll and taxes on time and in compliance with banking regulations. ACEpay offers its users the convenience of linking theirpre-paid Visa or MasterCard to their ACEpay account and transact funds which are secure and insured.
“No longer does the dispensary, cultivator or manufacturer need cash to conduct business, as ACEpay helps to eliminate the security risks associated with a cash-only business,” Steve says.
Other major issues facing the cannabis industry include seed to sale and taxation revenue. Seed to sale tracking and inventory management systems are very important for cannabis cultivators. The lack of uniformity in such aspects, which vary from state to state, demands a need for a comprehensive, compliant and consistent approach.
To help fulfill this need within the industry,Amercanex developed ACEtrak,a seed to sale tracking software with administrative, plant and inventory management, security, compliance and accounting capabilities.This software, which includes Point of Sale (POS), Radio Frequency Identification (RFID) and geo-tracking services, allows government regulators to verify and collect taxes.
“The end-to-end commerce solutions will give state and local government regulators, as well as Amercanex stakeholders, the ability to conduct business confidently and effectively,” says Michael Herron, Amercanex Chief Operating Officer.
Amercanex also offers laboratory testing, storage and grading and secure transportation services to help the cultivators with their crops. To further fortify their efforts to this end, Amercanex recently signed a partnership agreement with the California Growers Association, a strong supporter of cannabis growers.
Pushing for a Global Cannabis Market
The cannabis initiative in the U.S. is going in full force, with more and more states expressing their desire to legalize marijuana. The legal cannabis industry is currently worth from $8 to $10 billion, but the unregulated cannabis industry is estimated to be worth between $100 and $200 billion.
In other parts of the world, cannabis use is growing in popularity. Australia, Portugal, the Netherlands, Czech Republic, Israel and Romania are some of the largest countries to legalized or decriminalize cannabis.
To help with this cause, Amercanex has expanded its services to the international level, and the company has been rebranded recently to Amercanex International Exchange. Their first initiative towards this has been directed at Canada, where Prime Minister Justin Trudeau recently announced plans for the entire country to legalize the use of recreational marijuana.
Amercanex’s President Dennis Garces is currently heading up a team in Canada that is in close talks with the government about ways they can help support the cannabis legalization efforts. In the years to come, Amercanex intends to become an international exchange,providing three powerful platforms serving the global cannabis industry.
Quote: No longer does the dispensary, cultivator or manufacturer need cash to conduct business, as ACEpay helps to eliminate the security risks associated with a cash-only business